Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout Southeast Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the company’s products. The company now is planning raw materials needs for the third quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory requirements: The finished goods inventory on hand at the end of each month must equal 2,000 units of Supermix plus 20% of the next month’s sales. The finished goods inventory on June 30 is budgeted to be 15,400 units. The raw materials inventory on hand at the end of each month must equal one-half of the following month’s production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 102,000 cc of solvent H300. The company maintains no work in process inventories. A monthly sales budget for Supermix for the third and fourth quarters of the year follows.

Budgeted Unit Sales

July 67,000

August 72,000

September 82,000

October 62,000

November 52,000

December 42,000

8. Reconciliation of MOH. At the beginning of the quarter you calculated an allocation rate of $200 per DL Hour for allocating indirect costs. Over the course of the quarter you have assigned costs to Job Z based on actual labor hours of 780. At the end of the month you calculate actual manufacturing overhead to be $194,400. The ending balance (before adjustments) for each account is listed below. Work in Process Inventory $150,000 Finished Goods Inventory $300,000 Cost of Goods Sold $250,000 a. Did you over- or under-allocate manufacturing overhead? By how much? (2 points) b. How would you dispose of the discrepancy using the Write-off Approach? Show the t-accounts. (4 points) c. If you use the Proration Method how would you allocate the discrepancy? Given the ending balances (before adjustments) Show the account balances before adjustments (given above), any adjustments made, and the ending accounting balances for each of the affected accounts (using a table, t-accounts, or both – whatever is necessary to get your message across). Round your answers to the nearest dollar. (6 points)

Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the company’s products. The company is now planning raw materials needs for the third quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory requirements:

a. The finished goods inventory on hand at the end of each month must be equal to 3,000 units of Supermix plus 25% of the next month’s sales. The finished goods inventory on June 30 is budgeted to be 19,250 units.

b. The raw materials inventory on hand at the end of each month must be equal to one-half of the following month’s production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 84,000 cc of solvent H300.

c. The company maintains no work in process inventories.

A sales budget for Supermix for the last six months of the year follows.

The board of directors of Metlock Corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available.

Prepare a condensed income statement for the year on both bases for comparative purposes.

You have recently been hired to manage a clothing store. At the moment, each of your salespeople are paid an hourly wage. The store's owner is not happy with the store's profits and has instructed you to modify the compensation of your sales staff.

Below are five potential approaches to compensating your salespeople. Rank them in order of their effectiveness at helping to increase the store's profits, with the most effective approach on top and the least effective approach at the bottom.

• Piece rate: a salesperson receives a fixed amount of money for each article of clothing they sell.
• Profit sharing: at the end of each quarter, each salesperson receives a percentage of the store's quarterly profit.
• Commission: as part of their biweekly paycheck, a salesperson receives a percentage of the profit margin for each item they personally sold over the previous two weeks.
• Quarterly bonus: if, at the end of a quarter, the store's revenue surpasses a benchmark level, each salesperson receives a bonus.
• Revenue sharing: at the end of each quarter, each salesperson receives a percentage of the store's quarterly revenue.

Inventory Costing Methods-Perpetual Method Fortune Stores uses the perpetual inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 130 units with a unit cost of $335. Transactions for this item during April were as follows:

Required
a. Calculate the cost of goods sold and the ending inventory cost for the month of April using the weighted-average cost method. Do not round until your final answers. Round your final answers to the nearest dollar.

b. Calculate the cost of goods sold and the ending inventory cost for the month of April using the first-in, first-out method.

c. Calculate the cost of goods sold and the ending inventory cost for the month of April using the last-in, first-out method.

he Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29 Sold 20 units@ $110 per unit Required a. Compute the cost of goods sold and the ending inventory cost for the month of June using the weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. b. Compute the cost of goods sold and the ending inventory cost for the month of June using the first-in, first-out method. c. Compute the cost of goods sold and the ending inventory cost for the month of June using the last-in, first-out method. a. Weighted Average Ending Inventory Answer Cost of goods Sold Answer b. First-in, First-out: Ending Inventory Answer Cost of Goods Sold: Answer c. Last-in, first-out: Ending Inventory Answer 0 Cost of Goods Sold: Answer

Two skydivers are holding on to each other while falling straight down at a common terminal speed of 63.10 m/s. Suddenly, they push away from each other. Immediately after separation, the first skydiver (who has a mass of 89.30 kg) has the following velocity components (with "straight down" corresponding to the positive z-axis):

v1x=4.93 m/s      v1y=3.75 m/s     v1z=63.1 m/s

What are the x- and y-components of the velocity of the second skydiver, whose mass is 57.70 kg, immediately after separation?

What is the change in kinetic energy of the system?